The mainboard-listed company is acquiring the 32-storey building from Deka Singapore, a unit of Germany's DekaBank Group. Oxley intends to renovate the commercially zoned site. The office tower has a net lettable area of about 215,667 sq ft while the retail area is around 45,613 sq ft. The acquisition is expected to be completed by late March.
Oxley continues to expand its Singapore residential landbank; it has been awarded the collective sale of Vista Park at S$418 million, which works out to about S$1,096 per square foot per plot ratio, inclusive of an estimated S$72 million payable to the state to top up the site's lease to 99 years.
The URA's data, compiled from its survey of licensed housing developers, also showed that developers found buyers for 148 EC units last month, lower than the 211 units in October and the 251 units in November last year. This could be due to lesser units of ECs available in the market.
Kingsford Property Development sold 38 units at its Upper Serangoon View project Kingsford Waterbay at a median price of S$1,346 psf.
GuocoLand moved 35 units at Sims Urban Oasis at a median price of S$1,508 psf.
In Lorong 5 Toa Payoh, the developers of Gem Residences transacted 34 units at a S$1,517 psf median price.